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I would suggest that we use 5% of the bailout money to endow the Banks of England, which would be established in the counties and cities of England a… - Maurice Glasman, Baron Glasman
" "I would suggest that we use 5% of the bailout money to endow the Banks of England, which would be established in the counties and cities of England and would be constrained to lend within the county or city. The principal of the endowment would be in trust to the people of that county or city, in perpetuity so that it could not be liquidated by its members, and the balance of power in its corporate governance will be held by a third being held by the Bank of England, a third by its workforce and a third by the civic institutions of the locality. These newly constituted ‘Banks of England’ are one of the essential feature of Blue Labour statecraft built upon endowment and institution building.
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About Maurice Glasman, Baron Glasman
Maurice Glasman, Baron Glasman (born 8 March 1961) is an English political theorist, academic, social commentator, and Labour life peer in the House of Lords. He is a senior lecturer in Political Theory at London Metropolitan University and Director of its Faith and Citizenship Programme. He is best known as a founder of Blue Labour, a term he coined in 2009.
Also Known As
Alternative Names:
Maurice Mark Glasman, Baron Glasman
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Maurice Glasman
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Maurice Mark Glasman
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Lord Glasman
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Additional quotes by Maurice Glasman, Baron Glasman
The last thing I watched on telly with my mother, she died in very late 2008 in the middle of the financial crash, was Gordon Brown saying that it was the destiny of the Labour movement to save the global banking system. And that statement –‘the destiny of the Labour movement to save the global banking system’… I looked to my mum and the last movement she made, really, was to shake her head. You know, it may be the fate of the Labour movement but it can’t be its destiny, that’s just crazy. She just looked bewildered by that.
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I was involved with organising migrant worker nannies, domestic workers, in New York State with the IAF. We flew them to a hotel, got them together, and got them to talk to each other about what their issues were. What was incredible was that out of those 300 nannies all of them were prepared to pay a not insubstantial part of their wages to join a union that could articulate their concerns. They were getting sexual harassment, exploitation. It only grew out of them meeting each other, they had to have that initial investment to get them together. They came from all over the world but what they found when they got together was they had the same issues. If people knew you could join a union, get on, and protect each other it would be transformative – we’ve got to find a way, to put it bluntly, of supporting good work. There needs to be a complete transformation of the language and agenda of unions.
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